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Frequently Asked Questions

Are syndication costs for a partnership tax deductible?

The partnership also paid the partner a management fee and claimed a deduction for it. The partner reported the management fee as income but also claimed offsetting deductions for the syndication costs that it incurred on behalf of the partnership.

What are some examples of syndication costs?

Examples of potential syndication costs include brokerage fees, registration fees, and legal and accounting fees incurred in connection with issuing and marketing of interests in a partnership.

Are syndication fees capitalized or amortized?

The IRS considers these “syndication fees” which are capital expenses that cannot be depreciated or amortized. You also cannot claim a loss on syndication fees. Start-up costs can be capitalized and amortized if they meet both of the following tests: You pay or incur the costs before the day your active trade or business begins.

How are syndication costs treated in SEC 705 (a) (2) (b)?

Sec. 1.704-1(b)(2)(iv)(i)(2) treats syndication costs as Sec. 705(a)(2)(B) expenditures for purposes of maintaining the partnership's capital accounts. A partner's Sec. 704(b) capital account is reduced by its share of the partnership's Sec. 705(a)(2)(B) expenditures, including its share of a partnership's syndication costs.


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